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Photo: Silas Stein/picture alliance via Getty Images

Boeing has agreed to buy an 80% stake in the commercial aviation business of Brazil's Embraer at an enterprise value of $5.26 billion.

Why it's the BFD: This is nearly an 11% valuation bump from when a preliminary agreement was first announced this past summer, and means Boeing will become a challenger to Airbus and Bombardier in the smaller passenger jet market.

  • The deal comes after a legal injunction was thrown out by a Brazilian appeals court, although it still requires Brazilian regulatory approval.

The bottom line: "While Embraer has had a fair amount of success with U.S. regional airlines, that's a limited market that can't come close to filling Embraer's production capacity. ... Tapping into Boeing's massive customer base and its sales force is the best way for Embraer to land some significant orders from major airlines, The Motley Fool's Adam Levine-Weinberg writes.

Go deeper

29 mins ago - Health

Fauci: COVID vaccine rollout needs to prioritize people of color

Anthony Fauci. Photo: Alex Wong via Getty Images

Infectious disease expert Anthony Fauci highlighted the need to address racial disparities in the COVID-19 vaccination process, per an interview with The New England Journal of Medicine on Wednesday.

What he’s saying: "I think that's the one thing we really got to be careful of. We don't want in the beginning ... most of the people who are getting it are otherwise, well, middle-class white people."

The Mischief Makers

Illustration: Sarah Grillo/Axios

Several Republican and Democratic lawmakers are emerging as troublemakers within their parties and political thorns for their leadership.

Why it matters: We're calling this group "The Mischief Makers" — members who threaten to upend party unity — the theme eclipsing Washington at the moment — and potentially jeopardize the Democrats' or Republicans' position heading into the 2022 midterms.

2 hours ago - Politics & Policy

Obama speechwriter fears Biden unity drive is one-sided

Cody Keenan (right) is shown heading to Marine One in December 2009. Photo: Mandel Ngan/AFP via Getty Images

President Obama's former speechwriter says he's "preemptively frustrated" with President Biden's effort to find unity with Republicans.

What they're saying: Cody Keenan told Axios that Biden's messaging team has "struck all the right chords," but at some point "they're gonna have to answer questions like, 'Why didn't you achieve unity?' when there's an entire political party that's already acting to stop it."